[benoau]

That endowment is not their budget for scientific research. The EU basically caught up with what Harvard spends of their own money with that €500 million.

> In fiscal year 2024 (FY24), research at Harvard was supported by more than $1 billion of sponsored funds from federal, foundation, and industry sponsors, alongside an additional $526 million funded directly by the University.

https://osp.finance.harvard.edu/osp-annual-report

[esbranson]

> The EU basically caught up with Harvard

[benoau]

And the kicker is, they're actually planning to overtake Harvard's $526 million investment by approximately three orders of magnitude.

> Von der Leyen announced the 500 million euros ($566.6 million) incentive package and said she also wanted EU member states to invest 3% of gross domestic product in research and development by 2030.

https://www.reuters.com/science/eus-von-der-leyen-announces-...

[esbranson]

Let's hope they have better success than NATO at holding the EU states to their pledges. Otherwise Harvard may gain the upper hand.

> The endowment distributed $2.4 billion in the fiscal year 2024.

https://en.wikipedia.org/wiki/2014_Wales_summit

https://finance.harvard.edu/financial-overview

[FirmwareBurner]

From where will the increased GPD % for defense and research come from? Education? Healthcare? Infrastructure?

[benoau]

Probably from being able to tax corporations effectively and preventing individuals from dismantling functional economies.